Press release
Biologic & Biosimilar RA Drugs Market to Reach $18.16 Billion by 2028 within Forecast Period 2024-2033, Driven by Growing Geriatric Population
Biologic & Biosimilar RA Drugs Market Report
The biologic & biosimilar ra drugs market size is expected to see strong growth in the next few years. It will grow to $18.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing biologic drug development, market competition, healthcare policies, patient preferences, clinical research & development. Major trends in the forecast period include rise in biosimilar market competition, personalized medicine and precision therapy, advancements in drug delivery systems, focus on safety and efficacy, patient-centric healthcare.
Market Overview -
Biologics and biosimilars refer to a class of drugs that are extracted from living organisms such as living cells, microorganisms, and other living creatures. Biosimilars are biologics that have similar characteristics to an already approved biological molecule. These drugs are used for the treatment of rheumatoid arthritis.
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Growing Geriatric Population And Rising Rheumatoid Arthritis Cases Propel Biologics And Biosimilar Ra Drugs Market
The rising older population and increasing incidence of rheumatoid arthritis are driving the biologics and biosimilar RA drugs market forward. The older population refers to people who are aged 60 years or older. Rheumatoid arthritis is an autoimmune disease in which the immune system of a person attacks its healthy cells, and the joints of the person are affected. Rheumatoid arthritis is most likely to affect people in old age as the immune system gets weaker with old age. Biologics and biosimilar RA drugs are very useful for the treatment of rheumatoid arthritis as compared to conventional drugs. For instance, according to the World Health Organization (WHO), a Switzerland-based specialized health agency of the United Nations, there were about 1 billion people aged 60 and above in the world in 2020 and this population is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050. Furthermore, according to the Centers for Disease Control and Prevention, a US-based governmental public health agency, the number of adults suffering from arthritis in the USA is expected to increase to 78.4 million by 2040 while 34.6 million people may suffer from arthritis-related activity limitations. Therefore, the increasing geriatric population along with the increasing RA cases is driving the biologics and biosimilars RA drugs market forward.
Competitive Landscape -
Major companies operating in the biologic & biosimilar ra drugs market report are Samsung BioLogics Co. Ltd., Amgen Inc., Novo Nordisk A/S, AbbVie Inc., Johnson & Johnson Services Inc., Pfizer Inc., Merck & Co. Inc., Eli Lilly and Company, Novartis AG, Bayer AG, F. Hoffmann-La Roche Ltd., AstraZeneca PLC., Teva Pharmaceutical Industries Ltd., Fresenius Se & Co. KGaA, Stada Arzneimittel AG, Boehringer Ingelheim Pharmaceuticals Inc., Gedeon Richter Plc., La Roche Ltd., Regeneron Pharmaceuticals Inc., Bristol-Myers Squibb Company, Dr. Reddy's Laboratories Ltd., Biogen Inc., Genentech Inc., GlaxoSmithKline plc, Mylan N.V., Sandoz International GmbH, Amneal Pharmaceuticals LLC, Apotex Inc., Biocon Ltd., Coherus BioSciences Inc. .
Biosimilar Treatment To Provide An Affordable Alternative
New innovations are a key trend in gaining popularity in the biologic & biosimilar RA drugs market. Major companies operating in the biologic & biosimilar RA drugs market are focused on developing biosimilar treatments such as Dual Concentration Biosimilar Options to provide an affordable alternative. For instance, in July 2023, Organon, a US-based healthcare company, and Samsung Bioepis, a South Korea-based biopharmaceutical company, launched HADLIMA, a biosimilar of Humira (adalimumab), in the US. Available in high and low concentrations, HADLIMA aims to enhance access and affordability for patients with autoimmune diseases. The biosimilar is priced at an 85% discount to Humira, contributing to expanded patient access. HADLIMA includes an autoinjector, recognized by the Arthritis Foundation, and a patient support program, ""HADLIMA For You,"" offering educational resources and co-pay support. It is indicated for various conditions, including rheumatoid arthritis and Crohn's disease. HADLIMA is available in both citrate-free high concentration (100 mg/mL) and citrate-containing low concentration (50 mg/mL), providing patients with seamless continuity of care.
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Key Segments -
The biologic & biosimilar ra drugs market covered in this report is segmented -
1) By Source: Microbial, Mammalian, Other Sources
2) By Disease: Oncology, Immunological Disorders, Cardiovascular Disorders, Hematological Disorders, Other Diseases
3) By Manufacturing: Outsourced, In-House
4) By Mode Of Purchase: Prescription Drugs, Over-The-Counter (OTC) Drugs
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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